Congress Asset Management Co. Grows Holdings in PTC Inc. (NASDAQ:PTC)

Congress Asset Management Co. boosted its holdings in shares of PTC Inc. (NASDAQ:PTC) by 767.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 662,826 shares of the technology company’s stock after acquiring an additional 586,443 shares during the period. Congress Asset Management Co. owned 0.55% of PTC worth $119,746,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First Horizon Advisors Inc. raised its stake in shares of PTC by 77.5% in the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after buying an additional 62 shares during the period. Blue Trust Inc. boosted its position in PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of PTC in the 2nd quarter valued at $29,000. International Assets Investment Management LLC bought a new position in shares of PTC in the 2nd quarter worth $30,000. Finally, OFI Invest Asset Management purchased a new stake in shares of PTC during the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Activity at PTC

In related news, Director Robert Schechter sold 5,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total value of $858,650.00. Following the completion of the transaction, the director now directly owns 59,616 shares in the company, valued at approximately $10,237,855.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Robert Schechter sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total transaction of $858,650.00. Following the completion of the sale, the director now owns 59,616 shares in the company, valued at $10,237,855.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Staats Aaron C. Von sold 1,000 shares of PTC stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the sale, the executive vice president now owns 13,902 shares in the company, valued at $2,363,340. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,000 shares of company stock worth $1,714,010 in the last 90 days. Corporate insiders own 1.17% of the company’s stock.

PTC Stock Performance

NASDAQ:PTC traded down $1.63 during mid-day trading on Thursday, hitting $185.21. The company’s stock had a trading volume of 108,116 shares, compared to its average volume of 793,215. The business’s fifty day moving average is $178.17 and its two-hundred day moving average is $177.72. The stock has a market cap of $22.25 billion, a price-to-earnings ratio of 76.26, a PEG ratio of 2.75 and a beta of 1.17. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. PTC Inc. has a 1 year low of $135.16 and a 1 year high of $194.24.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $518.64 million during the quarter, compared to analysts’ expectations of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. Analysts anticipate that PTC Inc. will post 3.51 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently weighed in on PTC shares. Robert W. Baird raised their price objective on PTC from $216.00 to $226.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Piper Sandler raised their price target on PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Rosenblatt Securities restated a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $202.00 price target on shares of PTC in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, PTC has an average rating of “Moderate Buy” and an average target price of $201.09.

PTC Company Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, and field service processes; ThingWorx, a platform for Industrial Internet of Things; ServiceMax, a field service management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools.